LevelUp scores additional USD9 million for mobile payment app

Payment app LevelUp has raised USD9 million from T-Venture, Deutsche Telekom’s investment arm. The funding is the second tranche of a larger funding round that previously brought the company USD12 million. As part of the deal, T-Venture senior investment manager Randeep Wilkhu is also joining LevelUp’s board. LevelUp, which is part of Boston-based mobile developer SCVNGR, provides a QR code-based app that lets consumers pay with their phone at more than 3,000 merchants, including Ben & Jerry’s and Quizno’s. The funds will be used for recruitment, advertising and to fuel growth, the company said.

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